A5233

New Jersey A5233 allows businesses to round cash transactions to the nearest nickel or dime.

New Jersey A5233 establishes rounding requirements for cash transactions in response to the federal government's end of penny production. Businesses that choose to round can round down to the nearest dime for amounts ending in $.01 or $.02 and round up to $.05 for amounts ending in $.03 or $.04. Amounts ending in $.06 or $.07 round down to $.05, and those ending in $.08 or $.09 round up to $.10. The rounding does not apply to non-cash payments. Violations incur civil penalties, with escalating fines for repeated offenses.